question_answer

?Cheap and affordable credit is crucial for the country?s development.? Assess the statement.

Answer:

Cheap and affordable credit is crucial for the country?s development:

(i) Many people want to start an enterprise by taking loans may not do so because of high cost of borrowing.

(ii) Banks and cooperative societies need to lend more money on low interest.

(iii) This would lead to higher income and many people could then borrow cheaply.

(iv) People in villages could grow crops, or set up small scale industries.